Record-High Price Segments Shift: Mid-to-High Range in Seoul, Upper Brackets in Gyeonggi [Real Estate AtoZ]

Record-High Transactions in Seoul Rise to 5.2% in the 1.2?1.5 Billion Won Range
Gyeonggi Sees Increase in Record-High Deals in the 900 Million?1.2 Billion Won Bracket

An analysis has revealed that the price ranges and structure of record-high transactions in the Seoul metropolitan apartment market changed last year. In Seoul, record-high transactions became more concentrated in the mid-to-high price range, while in Gyeonggi Province, they shifted toward the upper price brackets.

According to Zigbang's analysis of actual apartment transaction prices in 2025 by price range, the proportion of transactions in the over 1.2 billion to 1.5 billion won range rose from 1.7% in the first quarter to 5.2% in the fourth quarter last year. This indicates that the center of record-high transactions moved to the mid-to-high price segment. The proportion of record-high transactions in the over 900 million to 1.2 billion won range also increased from 1.2% to 4.0%. In contrast, the share of record-high transactions in the over 3 billion won range fell from 3.7% to 2.4%.

This change in the proportion of record-high transactions by price range is attributed to the high price level of Seoul apartments, which requires a certain level of loans for buyers to enter the market, combined with stricter loan regulations and changing financial conditions. Buyers with relatively limited financial resources shifted toward more affordable price ranges, and both new transactions and record-high prices became concentrated in the mid-to-high price segment.

Quarterly Proportion of Record High Transaction Price Ranges for Seoul Apartments in 2025. Zigbang

The trend in Gyeonggi Province was different from that in Seoul. Until the first quarter, transactions in Gyeonggi Province were clearly concentrated in the lower price range, but as the year progressed, both the structure of transactions and the price range of record-high deals moved upward. In the first quarter, the proportion of record-high transactions was 1.5% for apartments priced at 600 million won or less, and 0.5% for those between over 600 million and 900 million won. The proportion of record-high transactions in the over 900 million to 1.2 billion won range rose from 0.3% in the first quarter to 1.5% in the fourth quarter, and in the over 1.2 billion to 1.5 billion won range, it increased from 0.3% to 1.0%.

Transaction volumes showed a similar trend. In Gyeonggi Province, the number of transactions in the over 900 million to 1.2 billion won range rose from 1,874 in the first quarter to 3,192 in the fourth quarter. Transactions in the over 1.2 billion to 1.5 billion won range also increased from 863 to 1,268 over the same period.

Quarterly Proportion of Apartment Transaction Price Records in Gyeonggi Province in 2025. Zigbang

This is the result of increased transactions in complexes that were already high-priced, such as newly built or station-area apartments, in line with the upward phase of Seoul apartment prices. In Gyeonggi Province, as transaction price ranges gradually increased, record-high prices were also set in the upper price brackets.

In contrast, Incheon saw little change in its transaction structure over the past year. The share of transactions priced at 600 million won or less remained between 78% and 85% throughout the year, with only limited movement in the central price range. Record-high transactions were also mostly concentrated in the 600 million won or less bracket. As of the fourth quarter, the proportion of record-high transactions in Incheon for apartments priced at 600 million won or less was 1.6%, and both transactions and record-high deals in the over 900 million won range remained rare.

In 2025, the Seoul metropolitan apartment market saw its transaction structure reorganized around price ranges and locations that buyers could realistically afford, following a price increase early in the year and subsequent changes in loan regulations and financing conditions. Despite the implementation of the October 15 real estate policy measures, end-users focused on options that matched their financial capabilities. Although transaction volumes went through an adjustment phase, transactions continued within accessible price brackets.

There are projections that the lending environment and conditions for securing funds will not ease significantly in the short term, and that similar constraints will persist this year. Recently, the management stance on high-value mortgage loans has also been strengthened.

Kim Eunsun, Head of the Big Data Lab at Zigbang, said, "In the Seoul metropolitan housing market, the anxiety over supply shortages and the perception that buying a home will become increasingly difficult over time are overlapping, making it likely that buyers will continue to make choices within their financial means for the time being. With the possibility of additional policy announcements being discussed for mid-to-late January, we need to watch how these market trends may change."